A gaggle of traders backed by BlackRock and Citadel Securities is planning to begin a brand new U.S. nationwide inventory alternate in Texas, a spokesperson for Citadel Securities mentioned on Tuesday.
The Texas Stock Exchange, which has raised about $120 million, plans to file registration paperwork with the U.S. Securities and Exchange Commission (SEC) later this yr, The Wall Street Journal reported earlier, citing CEO James Lee.
BlackRock didn’t instantly reply to a Reuters request for remark.
The TXSE, as it’s identified, plans to compete for major and twin listings and goals to begin in 2025 and host its first itemizing in 2026.
The inventory alternate goals to draw listings of exchange-traded merchandise and goals to problem growing compliance prices at Nasdaq and New York Stock Exchange (NYSE), and newer guidelines just like the one setting targets for board range at Nasdaq.
Source: www.dailysabah.com